Stewart does at least say he’s a layman, and his understanding, while simplistic by financial insider standards, is fairly astute for a layman. And he does help capture the layman’s frustration with stuff. Stewart has a pretty broad intelligence and can hold his own surprisingly well on a vast range of topics. And he sounds pretty bright even in other settings, not just when he’s in control of the show. And he is very funny.
I think it is a very good interview. Cramer was not using weak excuse to defend himself. He was being very humble. I never seen this side of his personality. I think most of people with some financial knowledge understand Mad Money is just an entertainment show. I am not blaming him for his stupid picks. People should know that you are not supposed to make easy money by following a stock picking show at 6pm weeknight.
mpnoonan Wrote: ------------------------------------------------------- > anyone have a link? http://www.breitbart.tv/html/296683.html
I’m a fan of both Stewart and Cramer, but was disappointed by the segment. I didn’t think showing three year old clips of Cramer was in any way relevant to the current economic crises. I think Cramer is sincere in his attempts to educate individual investors, more through his books than his TV show which is entertainment. Stewart doesn’t seem to make any point except that investing in the markets is risky, but that shouldn’t be a suprise and what other options do people have if they don’t have pensions.
I kind of get sick of Dick Fuld being demonized as a figure head in every anti-finance rampage. Cramer and Stewart both agreed Fuld is a criminal, to which I disagree. Yes, his actions led to Lehman’s downfall and that is frustrating. But it’s important for us to pass judgement stochastically, by taking into account probabilities and the full range of possible outcomes. Fuld has been at Lehman virtually his entire career and I believe he wanted nothing more than for Lehman to survive. Fuld was widely priased throughout the 90’s and turn of the millenium for his ability to be greedy when the market was fearful and essentially play chicken with the market in downturns, refusing to liquidate. In the current downturn, his strategy backfired. I’m not saying what he did was not stupid and risky, but I am saying that it was equally risky the other times he attempted it and yet shareholders cheered him on, attributing his success to superior skill rather than luck and the role of probability. We need to be more consistent as a whole, it is fine to punish this type of behavior, but we should do it every time rather than judging solely based on results.
Not a big Cramer fan by any means. I watch his show once in a while for the entertainment value, but if you follow his advice without doing your own homework or getting a second opinion if you are not all that knowlegable in finance, well then you deserve what you get. This thing reaks of a sneak attack. Stewart obviously has someone putting this together and he’s just pulling the strings. In the end, most of the retreads who see this will be spewing out how big bad Jim Cramer was a big part in this whole economic mess, when that couldn’t be farther from the truth. The guy might be a loud mouth nethandreal who has made some pretty bad stock picks, but he sure as hell isn’t alone in this market. All something like this does is sidetrack people even more from the real issues. Big believer in what goes around comes around. Everyone has ghosts in the closet.
Have you all seen the last clip of the “UNCUT” interview. Stewart clearly states that he is sorry for making “Cramer” the lackey and Cramer is being shown in the wrong light, but that is the basis of his show and that is what he has to do. As well Stewart makes the point about people need to make clear “Your wealth is work” Do not know why they did not show these parts on the real show, a way different perspective. It’s all about ratings baby I guess. Black Swan - I agree. But I beleive Stewart was trying to get that point across, that Fuld should have never been cheer’d and celebrated when he bet the house and won, instead it should have been made clear that he was taking unreasonable bets. Like in 2008 when Wells Fargo reported good earnings, and CNBC cheer’d them on for 2 days or so. When really Wells Fargo was just playing with accounting rules, and the quality of those earnings were poor, but CNBC never made this point clear.
bchadwick Wrote: ------------------------------------------------------- > Stewart does at least say he’s a layman, and his > understanding, while simplistic by financial > insider standards, is fairly astute for a layman. > And he does help capture the layman’s frustration > with stuff. > > Stewart has a pretty broad intelligence and can > hold his own surprisingly well on a vast range of > topics. And he sounds pretty bright even in other > settings, not just when he’s in control of the > show. > > And he is very funny. Most of the writers from these comedy shows (SNL, Conan, Colbert, Letterman, Simpsons, etc…) are very intelligent, many with Ivy league pedigrees (ex. Harvard Lampoon)…they are highly read and have an understanding of the day-to-day issues. It does not surprise me that Stewart has an above average grasp if he is surrounded by and interacts with these people…
ditchdigger2CFA Wrote: ------------------------------------------------------- > I despise Cramer. Am I the only one? > > http://online.barrons.com/article/SB12339710739965 > 9271.html > > Reminds me of a Daj224 in a way. Pushing his > picks that just don’t work out in the end (Daj and > CMG). werd, f*ck him
needhelp Wrote: ------------------------------------------------------- > I didn’t watch it but watched snippets on CNN this > morning and my reaction was that Stewart already > had something on Cramer before they went on stage. > I think Stewart went to Cramer and said, look I > can prove this and this and demonstrate what a > buffoon you are. And Cramer said, ok let me off > the hook easy and I will apologize. > > That’s the only explanation I could come up with > for Cramer’s docile demeanor. > > That or Cramer really doesn’t know his behind from > his head. Agree. Cramer bent over on this one. He really did not attempt to argue.
Friday night…slow news cycle…it is funny how this is getting so much press on the local and cable news shows…
Gotta say, Stewart is my new hero.
letter of the law / intent of the law…CFA Level 2 stuff!
After hearing all the hype, I was quite underwhelmed by the whole interview. Just your typical cable new smear job where they don’t let the guest talk, and then cut and splice it for their purposes.
This just shows what happens when one party controls all three branches of government- they have to manufacture an enemy. Picking fights with Rush Limbaugh and Jim Cramer may distract the public from the real problems, but it’s rather cynical politics. I’d bet a month’s salary Rahm Emanuel or someone from the White House encouraged this attack on Jim Cramer. Anyone who takes investment advice from the TV deserves what they get and no rational person would try to blame CNBC for this mess. The only rationals for this attack are 1) ratings and 2) politics.
Yeah! Those big meanies. Puppy dog Rush and soft-spoken Jim. The indignity. Next thing you know, those dems are going to be eating babies!
T2 Wrote: ------------------------------------------------------- > no rational person would try to blame CNBC > for this mess. The only rationals for this attack > are 1) ratings and 2) politics. The rationale was when Rick Santelli went on a rant on live television condemning all the “loser” homeowners for being upside down in their mortgage with no steady income to pay it off. Don’t get me wrong, I think a lot of spoiled and irresponsible people will get bailed out from these policies, but I also think Santelli went way over the line and deserved to be called out. The point was that CNBC was cheerleading the whole thing and the fact that now they are pointing fingers at everyone else is very hypocritical.
Santelli must have gotten tipped off to bail on his DS appeareance. He probably heard that he was going to get “sucker punched” by Stewart. Seems like JS was really pissed that he did not get a chance to call out S on his show, so he went on a CNBC tirade…like I stated before, I bet Stewart is taking out a personal financial loss on CNBC… I am sure that it would be fairly easy with a little determination to take bits of Daily Show clips over the years and craft a Mosaic that would illustrate a point of view and make the DS look in the wrong…